Pet Insurance

Veterinary health care currently is a $19-billion industry. Contributory factors that led to this 73-percent upsurge, within the past five years, are the development of sophisticated medical equipment and diagnostic tools like MRIs, as well as the cost to run a veterinary practice. All these are making every vet visit more expensive that it was years ago.

If you're the type of owner who is willing to go out of your way to save your pet's life, then the recent developments in veterinary science is up to your advantage. Diagnostic tools that were once intended for humans, as well as treatments for fatal conditions, such as organ transplants and radiation, are now available to animals for a fee ranging from $1,000 to $5,000.

In 2006 alone, pet owners spent $8.7 billion in gross veterinary health care, which is the main reason for the rising popularity of the pet insurance industry. The percentage of American pet owners who bought pet medical insurance are now at five percent from less than one percent in 1995. Pet insurance is also widely popular in many countries in Europe.

Many of the pet insurance company are collaborating with the Petco Animal Supplies and the American Kennel Club to offer insurance to pet owners. Several leading companies, likewise, offer insurance coverage as an optional benefit for their employees.

Pet Insurance Coverage

Pet insurance policies are quite similar to human health insurance in terms of policies, deductibles, and annual premiums while coverage plans will be based on what the pet owner selects.

Insurance companies generally begin with their policies when a pet is six to eight weeks, while some allow no age limit. Few have a limit of up to 27 years, while others limit acceptance at the age of eight to nine years. Some companies that provide pet life insurance would offer lifetime coverage if the pet was insured prior to its eighth year.

The United State's oldest and leading insurance company, Veterinary Pet Insurance (VPI) has been working with hundreds of thousands of pet owners in delivering pet health care. VPI pet insurance has available coverage for cats, dogs, birds, ferrets, rabbits, reptiles, including exotic pets. VPI's coverage include a range of treatments, diagnostic tests, lab fees, clinic visits, hospitalization, prescriptions, X-rays, and major surgical procedures associated with the medical conditions the company covers.

Pet insurance does not guarantee cure-all benefits, though. Pet insurance companies do a background check on your pet before accepting them. At times, your pet may not be qualified for premiums. Companies may refuse to take breeds that are prone to hereditary diseases like hip dysplasia in golden retrievers and German Shepherds.

Deductibles, currently, range from $50 to around $100 while cost of policies can vary depending on the animal specie and the package chosen by the owner. Packages can be comprehensive that could include annual vaccinations, checkups, preventive medications like in Heartworm incidents, routine care, and neuter or spay surgeries. Other companies' plans only cover accidents and illnesses.

The increasing popularity of pet insurance in the United States and Europe can't help other citizens to question its practicality. While others could very well afford it, more pragmatic pet owners would rather "euthanize" their ailing pet and purchase another for a few hundred dollars, than spend thousands on treatment.

There are many things a pet owner can do to lessen the cost of pet care. Come to think of it, accidents aside, a healthy pet is less prone to contracting diseases. Keeping your pet healthy through proper diet (including feeding him with quality pet food), exercise, as well as immunizations can very well protect your pet from life-threatening diseases.

Pets can qualify as amiable company especially for the elderly and little children, which make it important to provide them the care they need. But always remember that pets, unlike humans, don't live that much long. You can choose animals that don't easily get sick or simply accept the fact that pets are only temporary.